GLW Analysis for 01.11.2007

Monthly chart shows stock to be in consolidation range. No buy signal in place as of yet.

Two dojis show 2 weeks of indecision, indicating that the major selling has abated. Buyers came out in force this week.

Gap down open today, flushed out all the sellers, and there was buying all day, closing near the highs for the day. Since next week is options expiration week, we will go out to the next month - february. The conservative trade is the ITM call -- 07 feb 17.50 call for $2.40. The more aggressive position is the slightly OTM call -- 07 feb 20.00 call for $0.85.